Gupta Will Not Take Stand, His Lawyer Says

Law360, New York (June 8, 2012, 7:45 PM EDT) -- Former Goldman Sachs Group Inc. director Rajat Gupta will not take the stand at his insider trading trial, his lawyer said Sunday, backtracking from an early commitment.

"After substantial reflection and consideration, we have determined that Mr. Gupta will not be a witness on his own behalf in the defense case," Gary Naftalis of Kramer Levin Naftalis & Frankel LLP said in an letter e-mailed to Judge Jed S. Rakoff.

Naftalis had on Friday told the judge and prosecutors that Gupta would testify.